| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 62nd | Good |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5001 Massillon Rd, North Canton, OH, 44720, US |
| Region / Metro | North Canton |
| Year of Construction | 1974 |
| Units | 34 |
| Transaction Date | 2022-01-18 |
| Transaction Price | $580,000 |
| Buyer | MASSILLON SQUARE LLC |
| Seller | ELITE HOME REMODELS LLC |
5001 Massillon Rd North Canton Multifamily Investment
Renter demand is supported by household growth within a 3-mile radius and proximity to major employers, according to WDSuite’s CRE market data. In an ownership-leaning area, stable occupancy will hinge on positioning for workforce renters and thoughtful rent management.
The property is in a B+ rated neighborhood that is competitive among Akron neighborhoods (ranked 65 out of 180), per WDSuite. The setting skews more rural, with essential services present but fewer lifestyle amenities; parks and childcare access trend above national midpoints, while cafes and pharmacies are limited. For investors, this points to a quieter residential context with pragmatic appeal over lifestyle-driven premiums.
Neighborhood occupancy trends should be evaluated carefully: the neighborhood s occupancy rate is below metro norms (ranked 164 of 180), which makes differentiated unit mix, condition, and pricing important for leasing stability. At the same time, the share of renter-occupied housing is modest at roughly one-quarter of units (nationally midpack), indicating an ownership-leaning area where multifamily assets serve a defined renter segment rather than the broad majority.
Within a 3-mile radius, population and households have expanded in recent years and are projected to continue growing over the next five years, suggesting a larger tenant base over time. Household incomes are comparatively strong for the region, and the rent-to-income ratio trends low, which supports retention and room for measured rent increases when paired with service and upgrade value. Investors should balance this with the local ownership landscape home values are elevated relative to some Midwest markets but not extreme nationally which can create some competition from for-sale housing.
Rents in the immediate area sit below major coastal benchmarks, and neighborhood-level amenities are serviceable rather than destination-oriented. For multifamily operators, this mix typically favors steady, needs-based demand over discretionary premiums, with performance driven by asset quality, renovation scope, and management execution rather than location alone.
Comparable crime statistics for this neighborhood were not available in WDSuite s current release. Investors commonly benchmark neighborhood safety against Akron metro trends and insurer guidance, monitor property-level incident histories, and incorporate visibility, lighting, and access control measures into operating plans.
Nearby corporate anchors support commuter convenience for renters, led by insurance, manufacturing, and energy employers noted below. This employment base can help sustain leasing velocity and retention, especially for workforce households.
- Erie Insurance Group insurance (5.5 miles)
- Goodyear Tire & Rubber manufacturing & corporate (9.3 miles) HQ
- FirstEnergy utilities (11.3 miles) HQ
- J.M. Smucker food & beverage (16.5 miles) HQ
- International Paper Company packaging & materials (25.4 miles)
Built in 1974, the asset is newer than the area s average vintage, offering a competitive position versus older stock while still leaving room for targeted modernization of systems and interiors. Within a 3-mile radius, population and household growth point to a gradually expanding renter pool, and incomes are solid for the region; combined with a low rent-to-income profile, this supports occupancy stability and carefully paced rent adjustments, according to CRE market data from WDSuite.
Counterbalancing strengths, neighborhood occupancy ranks below metro norms and the area’s renter-occupied share is modest, so performance is likely to hinge on value-add execution, service quality, and amenity programming rather than location premiums. Proximity to major employers provides a leasing tailwind, but operators should plan for ongoing capital to sustain competitiveness.
- 1974 vintage offers competitive positioning versus older local stock, with clear modernization upside
- Expanding 3-mile renter base and solid incomes support occupancy and measured rent growth
- Employer proximity (insurance, manufacturing, utilities) aids leasing and retention for workforce renters
- Risk: Neighborhood occupancy ranks below metro norms; success depends on pricing discipline and management execution